Eversource Company Research Report

Company Overview

• Name: Eversource Energy

• Mission: At Eversource, the mission is to provide safe, reliable, and sustainable electric, gas, and water service to its customers while being committed to the communities it serves and looking forward to a sustainable energy future.

• Founded: Although Eversource was formed in its current structure in recent times, its roots trace back to the mid-19th century, having evolved from many predecessor companies.

• Key People: Joe Nolan (Chairman, President, and Chief Executive Officer)

• Headquarters: No specific headquarters location is mentioned in the provided data.

• Number of Employees: Nearly 10,000

• Revenue: No information is available.

• Products and Services: Known for being New England's largest energy delivery company, Eversource is committed to the delivery of electricity, gas, and water services.

• Customer Base: 4.4 million customers in Massachusetts, Connecticut, and New Hampshire.

Products

• Electric Services: Delivery of electricity to residential and commercial consumers across the service areas in New England.

• Key Features: Reliable power transmission and distribution systems, customer support for outages, and storm management processes.

• Natural Gas Services: Provision of natural gas services.

• Key Features: Safety protocols and energy-efficiency programs for consumers to manage energy costs.

• Water Services: No detailed description was found for water services.

Recent Developments

• Sustainability Initiatives:

• Eversource committed to reducing operational emissions, achieving a 30% decrease since 2018.

• Partnered with the Connecticut River Conservancy for environmental clean-ups and conservation projects.

• Launched the Networked Geothermal Pilot in Framingham, Massachusetts, to bring ground-sourced heating and cooling to 135 customers.

• Innovations:

• Completion of Phase 1 of the Cape Cod Solution project, which sets the foundation for offshore wind generation in the region.

• Conducted initiatives supporting the Massachusetts Division of Fisheries and Wildlife for eagle conservation through tagging eaglets.

• Social Responsibility:

• Volunteering and community support remain priorities, with employees volunteering over 31,000 hours in 2023.

• Continued focus on Diversity, Equity, and Inclusion as part of its social responsibility efforts.

• Technological Advancements:

• Modernizing electric sector plans to meet decarbonization goals by 2050.

• Partnerships:

• Collaborations include working with local organizations such as The Connecticut Agricultural Experiment Station for ecological balance and conservation efforts.

• Awards & Recognition:

• Recognized by the U.S. Department of Labor as a HIRE Vets Medallion Award recipient for veteran support.

• Included in Newsweek’s list of America’s Most Responsible Companies and Barron’s “100 Most Sustainable Companies” for multiple years.

Summary

Eversource is deeply rooted in its commitment to delivering reliable energy while fostering sustainability and community engagement. Through strategic innovations in clean technology and comprehensive community support initiatives, Eversource positions itself as a leader in ensuring a sustainable energy future for New England.